WestMountain Gold Pours First Gold Bar; and Reports Positive Assay Results
Pilot Mill at Alaska Terra Project
Hard Assets Investment Conference 2012
Business Wire
DENVER -- November 16, 2012
WestMountain Gold, Inc. (“WestMountain”) (OTCBB:WMTN), a mineral exploration
and development company, announced positive assay results from the gold
concentrates from the initial test run of its pilot mill, which became
operational in September 2012 at its Terra Gold Project in Alaska. The pilot
mill gravity concentrates assayed indicate 5,561.52 ounces of gold per ton and
2,254 ounces of silver per ton. There were concentrations of copper, tungsten,
antimony and zinc present ranging from 0.8% to 2.7%. From the concentrates of
one ton of ore processed by the pilot mill, there were 1.4 kg of gold
concentrate recovered which produced a 401 gram gold bar of which the Company
anticipates 9 oz of gold and 4 oz silver upon refinement based on current
metallurgical analysis.
Greg Schifrin, WestMountain Gold CEO, said, “The Terra Project pilot mill has
produced high concentration gold from the gravity mill. We are enthusiastic
about the equipment and pilot mill upgrades underway and the anticipated
production during the upcoming 2013 season.”
The assay results of gold concentrates from the Terra Project pilot mill are
71% gold and 29% silver. The gold recovery from the first metallurgical
testing of the concentrates is greater than 98.5% recover from the
concentrate. There is additional metallurgical testing and gold recover
currently underway and a complete report will be provided by year-end.
Further, WestMountain also announced the appointment of Dale Rasmussen to the
Board of Directors. Mr. Rasmussen served as the Chairman of the Board of
Quantum Fuel System Technologies Worldwide from 2002 to 2012, as well as being
a member of the Board of Directors since 2000. Mr. Rasmussen’s
responsibilities included acquisitions, joint ventures, strategic alliances
and investor and shareholder relations.
WestMountain Gold, Inc. will be in attendance and exhibiting at the Hard
Assets Investment Conference being held November 16 and 17 at the San
Francisco Marriot Marquis.
About WestMountain Gold, Inc. / Terra Mining Corp
WestMountain Index Advisor, Inc. / DBA WestMountain Gold, Inc. (OTCBB: WMTN)
(or the Company) is an exploration and development company that explores,
acquires, and develops advanced stage properties. The Company has a high-grade
gold system in the resource definition phase with 168,000 oz. of inferred
gold, which in total offers potential of greater than 1,000,000 ounces that is
owned by the Company’s wholly owned subsidiary, Terra Gold Corporation
(“TGC”). The WestMountain property consists of 344 Alaska state mining claims
covering 223 square kilometers. All Government permits and reclamation plans
for continued exploration through 2014 were renewed in 2010.
TGC is a joint venture partner of Corvus Gold, Inc. (“Corvus”) on this
project. TGC has the right to earn a 51% interest in the Terra Project from
Corvus by spending a total of USD $6.0M by December 31, 2013. TGC can further
increase its ownership to 80% with an additional USD $3.05M investment
bringing to a total of USD $9.05M capital investment by December 31, 2014.
Additional details are available at www.westmountaingold.com.
Safe Harbor Statement Some statements contained in this news release are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, and, therefore, involve uncertainties or risks that could
cause actual results to differ materially. These statements may contain words
such as "desires," "believes," "anticipates," "plans," "expects," "intends,"
"estimates" or similar expressions. These statements are not guarantees of the
Company's future performance and are subject to risks, uncertainties and other
important factors that could cause its actual performance or achievements to
differ materially from those expressed or implied by these forward-looking
statements. Such statements include, but are not limited to, projections of
gold reserves, assay results, plans to raise capital, expand the board,
strengthen management and governance and develop gold projects. Additional
information regarding factors that could cause results to differ materially
from management's expectations is found in the Company’s SEC filings. The
Company intends that the forward-looking statements contained herein be
subject to the above-mentioned statutory safe harbors. Investors are cautioned
not to rely on forward-looking statements. The Company disclaims any
obligation to update forward-looking statements.
Contact:
WestMountain Index Advisor, Inc.
Greg Schifrin, 208-290-1180
Chief Executive Officer
gschifrin@terraminingcorp.com